Principal Actuary - Omada Health

Omada Health is seeking a Principal Actuary to build our internal actuarial capability and help establish how we measure, communicate, and price the economic value of our programs. Reporting to the VP of Strategic Finance, you will be a hands-on individual contributor partnering across Finance, Clinical, Commercial, and Strategy.

You will bring actuarial rigor to savings and ROI methodology, performance guarantees, and at-risk arrangements. This role combines independent modeling with customer-facing work: building defensible analyses, explaining trade-offs to business partners, and engaging directly with payer actuaries and benefits consultants.

Your Impact

• Partner with Clinical and Commercial teams to develop ROI models for Medicare and government markets, support analyses related to Star Ratings, and inform evaluations of Omada's programs.
• Design and price performance guarantees and at-risk terms. Build pricing and exposure models, define clear triggers and measurement terms, and establish actuarial guardrails.
• Serve as the actuarial voice in finalist meetings, RFPs, and renewals with payers, employers, and benefits consultants, explaining and defending measurement methodology actuary-to-actuary.
• Model and monitor performance guarantee exposure across the customer portfolio, identifying contracts at risk and providing accrual/reserve inputs to Accounting.
• Pressure-test pricing and unit economics, including the effects of GLP-1 utilization, pharmacy trend, and medical trend on Omada's programs and customers.
• Establish reusable, version-controlled models and methodology documentation while building actuarial understanding across internal teams.

About You

• Credentials: ASA or FSA designation from the Society of Actuaries, in good standing.
• Education: Bachelor’s degree in actuarial science, mathematics, statistics, economics, or a comparable quantitative field.
• Experience: 10+ years of healthcare actuarial experience across Medicare Advantage, government markets, payer, consulting, or risk-bearing digital health/provider organizations.
• Technical Skills: Strong SQL and advanced Excel skills to independently extract data, construct models, and validate results.
• Claims & Methodology: Hands-on experience with medical and pharmacy claims, including matched-cohort and claims-based savings studies that withstand third-party scrutiny.
• Risk Arrangements: Experience designing or evaluating performance guarantees, shared savings, ROI, or value-based arrangements, including downside exposure quantification.
• AI Fluency: Experience leveraging AI in analytical workflows with clear output validation and proper data handling.
• Communication: Ability to present and defend methodology to payer actuaries, benefits consultants, and employer finance leaders.

Bonus Points

• FSA and MAAA credentials rather than ASA alone.
• Direct experience with GLP-1 and pharmacy trend economics, including specialty drug management.
• Deep background in Medicare Advantage, Medicaid managed care, or risk adjustment methodologies.
• Prior experience at a digital health or point solution vendor selling into employers and payers.
• Proficiency with Python or R for modeling and automation.

Benefits

• Competitive salary with generous annual cash bonus
• Equity grants and Employee Stock Purchase Plan (ESPP)
• Flexible Time Off and generous parental leave
• Comprehensive health, dental, and vision insurance with above-market employer contributions
• 401(k) retirement savings plan
• Lifestyle Spending Account (LSA) and mental health support solutions
• Remote-first work culture